05 - 06 June 2024 in Munich CosmeticBusiness



20/02/2024 CosmeticBusiness

China causes big Drop in Shiseido Sales

Economic Slowdown and Resentment hit the Cosmetics Company in 2023

Shiseido recorded a drop in sales of 8.8 per cent in the 2023 financial year. According to the figures just published, sales totalled 973 billion yen (6.0 billion euros), around 94.4 billion yen (0.6 billion euros) below the previous year. In terms of operating profit, the manufacturer said it suffered a severe loss of -39.6 per cent. Shiseido attributes this to a slowdown in the Chinese economy and lower consumer spending. The cosmetics company also felt the effects of Chinese resentment after the cooling water from the Fukushima nuclear power plant was discharged into the Pacific. China accounts for around 25 per cent of the Japanese manufacturer's sales. Shiseido is expecting a recovery in 2024, which is expected to result in sales of 1,000 billion yen (6.2 billion euros). Further information …

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